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Nov 1, 2012
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here in new york city, commerce has been crippled. and power is not expected to be restored in many areas until next week. i.h.s. global predicts that if the areas affected by sandy lose a quarter of their output for just two days, it would knock about $25 billion off u.s. economic growth in the fourth quarter. that could be as much a 0.6%. but longer-term, some of the financial losses should be recovered by repair and rebuilding efforts. home improvement stores like home depot and lowes will likely get a boost in sales. many construction jobs will be created to rebuild homes and businesses. and governments will be spending huge amounts of money to repair subways, roads, and bridges so all of those efforts should help boost econoc activity early next year. erika miller, "n.b.r.," new york. >> susie: joining us now for a closer look at sandy's economic impact, mark zandi, chief economist at moody's analytics. you know, mark, people often hear that when there's a sdater like zandi, that it's actually a boost to the economy. is that goin
here in new york city, commerce has been crippled. and power is not expected to be restored in many areas until next week. i.h.s. global predicts that if the areas affected by sandy lose a quarter of their output for just two days, it would knock about $25 billion off u.s. economic growth in the fourth quarter. that could be as much a 0.6%. but longer-term, some of the financial losses should be recovered by repair and rebuilding efforts. home improvement stores like home depot and lowes will...
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Nov 6, 2012
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new york's mayor estimates as many as 40,000 people in new york city may need temporary housing. but officials don't yet have a solution. the cost of the damage is staggering: between $30 and $50 billion, according to disaster modeling firm eqecat. and the possibility of more dislocated people will only make the road to recovery more difficult. erika miller, "n.b.r.," new york. >> tom: there is no doubt the damage left from sandy will take years to repair and the memories of the storm certainly will last a lifetime for those in her path. but she's just the latest natural disaster long-term investors have been faced with. i recently spoke with mark hebner, the founder and president of index funds advisors, asking him how long term investments should look at hurricane sandy. >> if they're holding a full equity portfolio they really should be looking at time horizons of like 15 or maybe even 20 years to hang on to that investment, to be in a position to have a reasonably good chance of catch turing the expected return of that portfolio. what is the risk, though, and the impact of th
new york's mayor estimates as many as 40,000 people in new york city may need temporary housing. but officials don't yet have a solution. the cost of the damage is staggering: between $30 and $50 billion, according to disaster modeling firm eqecat. and the possibility of more dislocated people will only make the road to recovery more difficult. erika miller, "n.b.r.," new york. >> tom: there is no doubt the damage left from sandy will take years to repair and the memories of the...
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Nov 3, 2012
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york city marathon. that and more tonight on "n.b.r.!" we begin with jobs. employers beefed up their payrolls last month, adding more jobs than expected as more americans counted themselves among the labor force. the official labor department count shows 171,000 jobs were created last month. that's much stronger than the 125,000 analysts were looking for. and the government revised its september new job count up to 148,000. thanks to more people looking for work, the unemployment rate rose slightly to 7.9%. darren gersh has the story from washington d.c. >> reporter: the october employment report makes it clear a jobs recovery is solidly underway. >> i think the key message there is that employment growth has been taken up a notch. over the last three months we've added over 170,000 jobs on average. that's a little bit better than what we've been seeing. that is enough over the long haul to bring the unemployment rate down, but slowly. >> reporter: one of the best things about this jobs report: payroll g
york city marathon. that and more tonight on "n.b.r.!" we begin with jobs. employers beefed up their payrolls last month, adding more jobs than expected as more americans counted themselves among the labor force. the official labor department count shows 171,000 jobs were created last month. that's much stronger than the 125,000 analysts were looking for. and the government revised its september new job count up to 148,000. thanks to more people looking for work, the unemployment rate...
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Nov 2, 2012
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meanwhile, the effects of the monster storm are paralyzing much of new jersey and new york city here's an update: four and a half million people are still without power, and it could take another ten days before power is restored. limited flights have resumed at all of the airports in the new york area. public schools are still closed in the city, as well as many schools in new jersey. and filling up on gas is the toughest problem of all. gas stations are running dry, and others do not have electricity to pump gas. motorists lined by the hundreds in new jersey, waiting and hoping for fuel. still ahead, we have more on sandy: flood insurance, the cost of getting power turned back on, and the challenge of getting around america's busiest city. >> tom: october marked a pick-up in private hiring. that's the word from payroll processing firm adp. it says u.s. private payrolls grew by 158,000 positions in october. that higher than expected number comes as adp overhauls how it calculates the number by including more companies in its survey. darren gersh reports. >> reporter: the economic sign
meanwhile, the effects of the monster storm are paralyzing much of new jersey and new york city here's an update: four and a half million people are still without power, and it could take another ten days before power is restored. limited flights have resumed at all of the airports in the new york area. public schools are still closed in the city, as well as many schools in new jersey. and filling up on gas is the toughest problem of all. gas stations are running dry, and others do not have...
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Nov 24, 2012
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terry lundgren in new york this morning and began by asking him how sales are going. both in store and on-line. >> they're both growing and that's the good news for us and while the online business has been spectacular for macy's for several years, we really look at the consumer as an omnichannel consumer. so she comes in, she does her research on her phone. she decides what store she wants to shop. what items she wants to shop for. maybe going back to her desk and pulling the trigger there. so i think that's what happening today. so the line between online and physical stores is blurred. >> reporter: the past several years consumers have opened their wallets around the holidays but come january it seemed that that optimism faded. what are you expecting come january 2013? >> we've had 11 consecutive quarters of consistent growth of sales and earnings at macy's inc. we've found the formula. a lot of retailers depend on january to be a clearance month. whatever we didn't sell in december, we'll sell at a discount in january and in our case we're trying to buy the right
terry lundgren in new york this morning and began by asking him how sales are going. both in store and on-line. >> they're both growing and that's the good news for us and while the online business has been spectacular for macy's for several years, we really look at the consumer as an omnichannel consumer. so she comes in, she does her research on her phone. she decides what store she wants to shop. what items she wants to shop for. maybe going back to her desk and pulling the trigger...
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Nov 27, 2012
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york city, listen to this. ♪ dedeliddle liddle... ♪ yeah ♪ dedeliddle liddle ♪ yeah ♪ dedeliddle liddle dedeliddle liddle ♪ ♪ liddle liddle liddle ♪ oh, little girl of mine ♪ gee, you sure look fine ♪ yes, you appeal to me ♪ i'll never set you free ♪ be my loving baby ♪ till the end of time ♪ i can't seem to get you ♪ off my mind ♪ the boys all roll their eyes ♪ as we go strolling by ♪ it's not so hard to see ♪ that they all envy me ♪ 'cause your mine, loving baby ♪ ♪ you belong to me ♪ that's the way it was ♪ meant to be ♪ well ♪ my baby ♪ oh, honey ♪ dedeliddle liddle liddle liddle ♪ ♪ yeah ♪ i think the marketplace is always moving because that's kind of the american way, you know. we have a tendency to discard those kinds of things that have gone past their useful life. ♪ doo mop ta doo mop ta doo mop duh duh ♪ ♪ ooh waa ooh waa ♪ ooh ooh wa ooh wa ♪ ooh ooh wa ooh wa ♪ why do fools fall in love? good music never goes past its useful life. good music is always part of the fabric of people's lives. george clinton: in 195
york city, listen to this. ♪ dedeliddle liddle... ♪ yeah ♪ dedeliddle liddle ♪ yeah ♪ dedeliddle liddle dedeliddle liddle ♪ ♪ liddle liddle liddle ♪ oh, little girl of mine ♪ gee, you sure look fine ♪ yes, you appeal to me ♪ i'll never set you free ♪ be my loving baby ♪ till the end of time ♪ i can't seem to get you ♪ off my mind ♪ the boys all roll their eyes ♪ as we go strolling by ♪ it's not so hard to see ♪ that they all envy me ♪ 'cause your mine,...
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Nov 13, 2012
11/12
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. >> reporter: in new york city, sabrina norrie and kelli space have an idea of their own, called zero bound. if students are struggling to pay debt in dollars, why not pay it through community service? they're still raising money, but once it's up and running, the company will help borrowers get donations in exchange for volunteer work. >> i thought, there's got to be a way we can get creative about this. and being involved in volunteer work, i thought, lets see if we can invest that education of students and alumni back into the community through volunteering. >> reporter: innovations like these have the support of the federal government, in a report last month, the consumer financial protection bureau said if they work, private businesses could play an important role in helping student borrowers pay down their debts. sylvia hall, "n.b.r.," washington. >> susie: for many people the holidays are typically a time to make charitable contributions. americans gave $200 billion to non-profits last year, and half of that came from the wealthiest americans. what influences their giving? rube
. >> reporter: in new york city, sabrina norrie and kelli space have an idea of their own, called zero bound. if students are struggling to pay debt in dollars, why not pay it through community service? they're still raising money, but once it's up and running, the company will help borrowers get donations in exchange for volunteer work. >> i thought, there's got to be a way we can get creative about this. and being involved in volunteer work, i thought, lets see if we can invest...
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Nov 29, 2012
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erika miller reports from one of the most expensive cities to fill 'er up. >> reporter: here in new york city, the long lines and gas rationing are finally gone, but there's more good news. like the rest of the nation, gas is actually cheaper now than before superstorm sandy. a month ago, superstorm sandy shut down refineries in the northeast, delayed oil shipments and left many gasoline stations without power. in some hard hit areas, prices spiked more than ten cents a gallon. but now, the situation has drastically improved here and around the country. regular unleaded costs an average of $3.42 nationwide. that's 12 cents below where it was a month ago. but drive are still paying about 12 cents more for gas today than a year ago. a big reason is escalating middle east tensions. >> anytime you have that kind of conflict in the middle east, whether it's the israelis or the egyptians, the syrians, it really the disruption of flow, you know. any time you get a problem in the gulf, it's really going to hinder oil prices. >> reporter: if the recent cease-fire between hamas and israel in the g
erika miller reports from one of the most expensive cities to fill 'er up. >> reporter: here in new york city, the long lines and gas rationing are finally gone, but there's more good news. like the rest of the nation, gas is actually cheaper now than before superstorm sandy. a month ago, superstorm sandy shut down refineries in the northeast, delayed oil shipments and left many gasoline stations without power. in some hard hit areas, prices spiked more than ten cents a gallon. but now,...
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Nov 21, 2012
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>> susie: federal reserve chairman ben bernanke came to new york city today to send a tough message back to washington-- get your act together. he urged lawmakers and the white house to reach a quick deal to avoid the fiscal cliff, saying it might mean next year could be "a very good one for the economy." ben bernanke didn't endorse any specific tax or spending policies to solve the fiscal cliff, but he urged lawmakers to think creatively. he said an agreement on ways to reduce long-term federal budget deficits could remove road blocks to growth. on the other hand, going over the cliff might mean a recession. on top of that, worries about a deal were already causing trouble. >> uncertainty about how the fiscal cliff, the raising of the debt limit, and the longer-term budget situation will be addressed appears already to be affecting private spending and investment decisions, and may be contributing to an increased sense of caution in financial markets. >> susie: wall street and business leaders were pleased that bernanke was talking tough. and they said the fed's role in the fiscal cliff
>> susie: federal reserve chairman ben bernanke came to new york city today to send a tough message back to washington-- get your act together. he urged lawmakers and the white house to reach a quick deal to avoid the fiscal cliff, saying it might mean next year could be "a very good one for the economy." ben bernanke didn't endorse any specific tax or spending policies to solve the fiscal cliff, but he urged lawmakers to think creatively. he said an agreement on ways to reduce...
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Nov 3, 2012
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. >> tom: still ahead, the new york city marathon is cancelled. what it means for advertisers of this world class event. that encouraging employment report didn't do much for stocks on wall street. stocks oped higher, but sellers took over.d the dow closed down 139 points, the nasdaq lost almost 38 points, the s&p closed off 13. for the week, the dow fell 0.1%. the nasdaq was down 0.2%. the s&p gained 0.2% this week. we'll talk more about the marts a little later in the program with our friday market monitor guest.ts he's duncan richardson at eaton vance. an update on the aftermath of hurricane sandy now. with temperatures dropping, tempers are flaring in some areas struggling with no per and dwindling food and clean water. >> this is staten island. four days after hurricane sandy brought her destructive winds ng storm surge of atlantic seawater. across the hudson river from new york, some new jersey neighborhoods remain inundated with flood waters. low temperatures this weekend are forecast to be close toas freezing. the official count from the a
. >> tom: still ahead, the new york city marathon is cancelled. what it means for advertisers of this world class event. that encouraging employment report didn't do much for stocks on wall street. stocks oped higher, but sellers took over.d the dow closed down 139 points, the nasdaq lost almost 38 points, the s&p closed off 13. for the week, the dow fell 0.1%. the nasdaq was down 0.2%. the s&p gained 0.2% this week. we'll talk more about the marts a little later in the program...